Morgan Stanley chairman and CEO Ted Pick
Morgan Stanley is said to be raising cash for a Japan real estate fund to be managed by the investment banking giant, with that report leading today’s headline roundup. Also in the news, Chinese-backed Kingsford enters the top bid for a Singapore residential site and South Korea’s IGIS prepares to take offers for a Seoul hotel.
Morgan Stanley Said Raising $684M for Japan Real Estate Fund
Morgan Stanley is raising JPY 100 billion ($684 million) for a Japan-focused real estate fund, two people familiar with the matter said, highlighting investor interest in property as the world’s fourth-largest economy emerges from years of deflation and standstill prices.
The Morgan Stanley-managed fund is due to close in June and expected to raise at least JPY 100 billion based on current investor commitments, according to the people, both of whom declined to be identified because the information hasn’t been made public. The final size of the fund could change by the closing, the people said. Read more>>
Chinese-Backed Developer Lodges Top Bid for Singapore Condo Project
The seventh 99-year leasehold private housing site released by the Singapore government in the new Lentor Hills estate has drawn just two bids, with the top offer coming in at a lower land rate than what the earlier six sites had fetched.
Property analysts offered a range of reasons for the outcome — from developers wanting to keep their powder dry for more choice sites coming up at state land tenders, to downside risks from a potential hit on the global economy on the back of the latest import tariffs announced by the Trump administration. Read more>>
IGIS Marketing Seoul Four Points Hotel
South Korea’s IGIS Asset Management has chosen Deloitte Anjin as its lead manager to sell Four Points by Sheraton Josun, Seoul Myeongdong, a four-star hotel in a popular spot for foreign tourists in Seoul.
According to investment banking industry sources on Wednesday, IGIS and Deloitte plan to begin bidding by the end of June to shortlist potential buyers and designate the top bidder. The hotel, a 26-storey building with three underground floors and a total floor area of 21,658 square metres (233,125 square feet), has 375 rooms and other facilities. Read more>>
Temu, Shein Hit With Closure of US Customs Exemption
US President Donald Trump signed an executive order Wednesday that closes a trade loophole known as “de minimis”, which had allowed low-value packages from China and Hong Kong to enter the United States free of duties. Trump signed the order, which takes effect on 2 May, in the White House Rose Garden after announcing sweeping new tariffs on global trading partners.
The White House said the move came after Commerce Secretary Howard Lutnick certified that “adequate systems are in place to collect tariff revenue” on the shipments. Read more>>
NTT GDC Break Ground on 50MW Greater Tokyo Data Centre
NTT Global Data Centers Japan and TEPCO Power Grid officially held a groundbreaking ceremony earlier this month for the construction of a new 50-megawatt data centre campus in Shiroi, Chiba, 30 kilometres (18.6 miles) east of central Tokyo.
Shiroi Data Center (SHR1) will support AI, cloud computing and the next generation of digital services with the first data centre on the campus, with 24MW of capacity, expected to be completed by April 2027. Read more>>
STT GDC Expects to Switch On Kolkata Data Centre by June
ST Telemedia Global Data Centres says its new data centre in Kolkata will go live in the second quarter of 2025.
With a total IT power capacity of 10 megawatts, the initial building of the facility will offer 5-6MW of IT power and will add to the company’s current 30 data centres across 10 cities, with a total IT load capacity of 390MW. Read more>>
India Real Estate Investment Jumped 31% in Q1
Institutional investments in Indian real estate increased 31 percent in January-March this year to $1.3 billion, driven by a sharp jump in inflows in the residential segment, according to Colliers India.
The consultancy noted that this growth was primarily driven by domestic investments, which accounted for 60 percent of the total inflows during the latest March quarter. Among asset classes, the consultant said inflows in the housing segment jumped nearly 3 times to $302.9 million in January-March this year from $102.6 million in the year-ago period. Read more>>
Australia’s HMC Capital Scales Back Expansion Plan
Embattled funds manager HMC Capital will temper its expansion to reflect the more volatile global environment, but is sticking to its target of growing its empire to more than A$50 billion ($31.2 billion).
Investors drove down shares in the ASX-listed investment manager by more than 6 percent early Thursday as it updated them on its strategy amid the sell-off in international markets prompted by the Trump administration’s tariffs. The stock recovered ground to close at A$5.99, a 12-cent fall for the day. Read more>>
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